I sighed, so thankful that she had not been enticed. Credit card companies target college students, giving them credit cards at an early age, to make them think that using a credit card is a normal part of the rest of their lives. Many college students not only graduate with student loan debt, but also graduate with credit card debt. What an awful way to begin life as an adult.
Through the years, I have watched people use credit cards in a destructive way, sabotaging their financial goals with these little plastic rectangles.
Harm of Credit Cards
Credit cards entice us to buy things we don't need or can't afford. Betty sees a bathing suit she wants at the beginning of the season, but she doesn't have the money to buy it. Instead of praying about it, she puts it on the credit card, along with all kinds of other things she needs. Before too long, Betty doesn't really need all the things she has bought with her credit card, but she continues to pile up debts. What is really sad is that Betty is a Christian who knows what the Bible teaches about debt being foolish.
Betty's debt is escalating quickly because the interest rate on her credit card is so high. Credit cards have an extremely high interest rate.
Instead of using a credit card, pray and ask God to provide what you need or want. If He says, "Yes" to your request, then He will give you money or provide it directly. If not, He wants you to delay gratification.
Value of Credit Cards
Sometimes you can earn cash when you use your credit card to pay bills and purchase necessary items.
The only way to use a credit card wisely is to pay it off every month before you have to pay interest.
Be sure to pay your credit card bill IN FULL at the end of every month. Leave NO balance due. Credit cards have a window before you have to pay interest, so if you pay your balance off every month, you will never pay interest.
Should You Use Credit Cards in an Emergency?
Don't use credit cards unless you have the cash to pay your bill off at the end of the month. Your cash should be set aside as soon as you use the credit card. Even in an emergency situation, don't use a credit card if you don't have the money to pay the bill.
We belong to Jesus! He can provide in emergencies. He doesn't need the help of a credit card.
Using Credit Cards Responsibly
If you think that you cannot use a credit card responsibly, then please don't get one. If you have one that you have misused, then repent and cut up your credit cards. Jesus tells us that if our eye causes us to sin, then gouge it out, (Matthew 5:29-30 NIV).
Use this principle with credit cards. If you can't use credit cards without going into debt, then get rid of them. Your life can be full without them. Put Jesus back on the throne and wait on Him to provide all your wants and needs! It is amazing to see how God provides, and gives Him all the glory in return.
Charge! With Wisdom!
Merey (Meredith Ludwig Curtis)